Funding you earn now, next payment 01:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.04 per $10,000 · paid last 24h +0.046%
Price spread now: Backpack against Kraken Futures−0.048%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Backpack is 0.048% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_SHIBUSD | 0.000006076 | 0.0258 | pay 0.0032% / 1h | 27m 26s | $1.2M | $830K | 50x |
| Short | Backpack kSHIB_USDC_PERP | 0.000006073 | 0.0229 | get 0.0029% / 1h | 27m 26s | $23K | $7K | 15x |
Kraken Futures PF_SHIBUSD
Backpack kSHIB_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Kraken Futures. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$6.24
- Price spread: −0.048% → 0.000%
- −$4.84
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$31.08
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 1 min ago; Backpack: no order-book sample. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Kraken Futures live order book, 1 min ago | 3.29 bp | 24.5 bp −$25 | 35.4 bp −$354 | doesn't fit | doesn't fit |
| Sell Backpack no order-book sample | — | — | — | — | — |
Backpack: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
SHIB on 29 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX SHIB-USD | 0.0000% | 1h | 0.000006072 | −0.064% | $23K | $64K | 10x | as long as short |
| Kalshi KXKSHIBPERP | 0.0000% | 8h | 0.000006073 | −0.053% | $208K | $2.3M | 2x | as long as short |
| Deribit 1000SHIB_USDC-PERPETUAL | 0.0000% | 1h | 0.000006073 | −0.048% | $47K | $65K | 25x | as long as short |
| gTrade (Gains Network) SHIB/USD | L +0.0006% / S −0.0001% | 1h | 0.000006079 | +0.047% | $739 | — | 150x | as long as short |
| Injective SHIB/USDC PERP | +0.0033% | 1h | 0.000006040 | −0.592% | $248 | $134K | 5.5x | as long as short |
| Coinbase International 1000SHIB-PERP-INTX | +0.0064% | 1h | 0.000006064 | −0.197% | $78K | $870K | 50x | as long as short |
| BingX 1000SHIB-USDT | +0.0080% | 8h | 0.000006074 | −0.032% | — | $2.1M | — | as long as short |
| Lighter 1000SHIB | +0.0096% | 1h | 0.000006079 | +0.050% | $240K | $469K | 10x | as long as short |
| Aster 1000SHIBUSDT | +0.0100% | 8h | 0.000006079 | +0.045% | $37K | $179K | 50x | as long as short |
| Pacifica kSHIB | +0.0100% | 1h | 0.000006078 | +0.034% | $12K | $4K | 10x | as long as short |
dYdX SHIB-USD
Kalshi KXKSHIBPERP
Deribit 1000SHIB_USDC-PERPETUAL
gTrade (Gains Network) SHIB/USD
Injective SHIB/USDC PERP
Coinbase International 1000SHIB-PERP-INTX
BingX 1000SHIB-USDT
Lighter 1000SHIB
Aster 1000SHIBUSDT
Pacifica kSHIBShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance 1000SHIBUSDT | +0.0100% | 8h | 0.000006080 | +0.072% | $29.8M | $98.4M | 75x | as long as short |
| OKX SHIB-USDT-SWAP | +0.0100% | 8h | 0.000006081 | +0.083% | $9.3M | $34.7M | 50x | as long as short |
| Gate SHIB_USDT | +0.0100% | 8h | 0.000006071 | −0.081% | $7.0M | $5.6M | 75x | as long as short |
| MEXC SHIB_USDT | +0.0100% | 8h | 0.000006083 | +0.116% | $31.5M | $16.8M | 300x | as long as short |
| KuCoin SHIBUSDTM | +0.0100% | 8h | 0.000006078 | +0.034% | $4.9M | $2.6M | 75x | as long as short |
| Bitget SHIBUSDT | +0.0100% | 8h | 0.000006079 | +0.050% | $11.5M | $13.8M | 75x | as long as short |
| Orderly PERP_1000SHIB_USDC | +0.0100% | 8h | 0.000006073 | −0.048% | $7K | $4K | 20x | as long as short |
| SunX SHIB-USDT | +0.0100% | 8h | 0.000006079 | +0.050% | $2K | $24K | 20x | as long as short |
| SoDEX 1000SHIB-USD | +0.0100% | 1h | 0.000006075 | −0.015% | $521 | $5K | 10x | as long as short |
| HTX SHIB-USDT | +0.0100% | 8h | 0.000006072 | −0.065% | $416K | $597K | 75x | as long as short |
| Phemex u1000SHIBUSDT | +0.0100% | 8h | 0.000006072 | −0.065% | $2.1M | $6.3M | 50x | as long as short |
| Extended 1000SHIB-USD | +0.0104% | 1h | 0.000006077 | +0.017% | $54K | $4K | 25x | as long as short |
| Paradex kSHIB-USD-PERP | +0.0119% | 8h | 0.000006077 | +0.018% | $7K | $13 | 20x | as long as short |
| GMX SHIB/USD [ETH-USDC] | L +0.0213% / S −0.2404% | 1h | 0.000006000 | −1.250% | $1K | — | 100x | as long as short |
| BloFin SHIB-USDT | +0.0220% | 8h | 0.000006070 | −0.098% | $807K | $939K | 50x | as long as short |
| Backpack kSHIB_USDC_PERPshort | +0.0229% | 1h | 0.000006073 | −0.048% | $23K | $7K | 15x | |
| Kraken Futures PF_SHIBUSDlong | +0.0258% | 1h | 0.000006076 | long leg | $1.2M | $830K | 50x | |
| Reya kSHIBRUSDPERP | +0.0323% | 1h | 0.000006080 | +0.072% | $1 | — | 20x | as long as short |
| Hyperliquid kSHIB | +0.0699% | 1h | 0.000006090 | +0.231% | $4.4M | $4.0M | 10x | as long as short |
Binance 1000SHIBUSDT
OKX SHIB-USDT-SWAP
Gate SHIB_USDT
MEXC SHIB_USDT
KuCoin SHIBUSDTM
Bitget SHIBUSDT
Orderly PERP_1000SHIB_USDC
SunX SHIB-USDT
SoDEX 1000SHIB-USD
HTX SHIB-USDT
Phemex u1000SHIBUSDT
Extended 1000SHIB-USD
Paradex kSHIB-USD-PERP
GMX SHIB/USD [ETH-USDC]
BloFin SHIB-USDT
Reya kSHIBRUSDPERP
Hyperliquid kSHIB